Minimise Payroll Risks

By July 8, 2015Payroll Outsourcing

Minimise payroll risks by outsourcing your company payroll function to Payroll Options.  Outsourcing the company payroll has many benefits, some of which are sometimes overlooked:

Reliability

At Payroll Options we have taken numerous steps to ensure accurate delivery of your payroll on time, every time.  Payroll has to be able to meet deadlines and here are some of the steps we have taken to make this happen:

  • Staff – one of our aims is that any member of staff can process any payroll. Although a company’s payroll is frequently managed by a small team, if that entire team were absent, with no notice, for any reason, another payroll team could take over.  The payroll would be processed in the usual way, the only difference being the names on the payroll report.
  • Technology – We cannot have our systems fail if we need to process payrolls, so we have taken steps to ensure that we minimise the risk of ‘system outage’. We use live parallel duplicate payroll systems, providing excellent system redundancy.

We also have incremental and offsite backups, and for a worst case scenario we keep a back-up disaster recovery site, that would enable a quick restore and back to operations in the case of a catastrophe.

Expertise

Do you have time to keep up to date with the payroll legislative changes?  Mistakes can be costly, both in terms of possible HMRC fines and the time taken to rectify them.  Payroll only seems to become more complicated each year, and the advent of auto-enrolment pensions has added another layer of worry.  Allow Payroll Options to take on this burden and gain peace of mind.

We employ payroll qualified staff and specialise exclusively in payroll.  We keep our people, and systems, up to date so you don’t have to.

Security

Fraudulent behaviour by employees is a very real problem, and employers should take steps to manage this risk.  Payroll fraud does happen and one possible, relatively simple, step that can be taken is to outsource the payroll function, and so divide the chain of the payroll process as well as an external source looking at the payroll.

The person producing the data, should ideally not be the person reviewing the payroll.  Payroll Options can send the payroll reports to nominated contacts, and so it is straightforward for a company to control the audit chain for payroll.

Outsourcing the payroll can be a practical step to minimise the risk of payroll fraud.

If you want more information on how Payroll Options can help your company minimise payroll risks, contact us today.